Forex is one of the markets with the highest exchange rate between currencies and above all set on virtual logic in which users can perform the aforementioned transactions at any time.
The important thing is to be registered with an authorized forex broker, acquire first forex skills with specific training courses and manage all operations in progress on a quality platform.
Choosing forex trading is a phase that implies considering that we are talking about one of the largest virtual markets in the world and with a large exchange of currency pairs between users from multiple parts of the world. And where compared to the past, the only figure of the intermediary is no longer needed to invest in such pairs, but you can operate directly on the trading platform through your forex broker.
Hence the need for all those who want to trade in forex, to carefully evaluate the broker with which to start from some very important points of view such as:
– Affordable minimum deposit to start with a first registration on forex, even if your own is an initial level. In particular, there are many brokers who have minimum starting deposits of 50 or 100 dollars.
– Being able to start a complete training (and why not even free) through forex broker resources included when opening a basic account.
– Personally manage forex trading operations from the platform on the forex broker to which you are subscribed, as well as choose between multiple operating modes such as webtrader platforms, mobile platforms and MT4 trading platform.
Here, therefore, is one of the most important reasons for choosing forex trading: Complete and competitive offers for each user of forex trading by brokers in the sector. One thing is certain, forex trading opens up opportunities for anyone to earn large income consistently. But how to start it all?
Every trader needs a forex trading platform and the most famous are the two platforms produced by Metaquotes; MetaTrader 4 and MetaTrader 5. Both MetaTrader 4 and 5 (MT4 and MT5 from now on) are the fruits of Metaquotes, a software company focused on the financial industry.
Both platforms are designed for individual traders who wish to speculate on the Forex market. Using a programming language called MQL, they are very robust programs that allow you to create a galaxy of different Expert Advisors and indicators (although each platform has different versions, they are mutually incompatible).
As you have probably already deduced, MT5 is the successor to MT4. However, MT4 remains the most popular trading platform today, as traders experience fear of migrating away from MT4’s tried-and-true (for lack of a better word) warhorse.
But if you have landed on this page, you probably have some questions of your own and want to arm yourself with facts before deciding which of the platforms to use. Here we go to the goal of giving you these facts.
MT4 vs. MT5 – What are the differences?
One of the first things the user will notice is that MT5 has a wider artboard, making the buttons clearer and easier to use.
However, this limits the graphics area, which means that Fibonacci retracement tools work less precisely on MT5, so if you are a Fibonacci fan, maybe MT4 is the best for you. However, if you prefer to have a well-designed and user-friendly interface, your successor may be more convenient for you.
We would also like to point out here that MT5 requires substantially more space on your hard drive, requiring three times more footprint than its predecessor on your PC or VPS, which significantly affect download / install times and VPS quota.
MT4 is lighter and provides many of the same features as MT5, so it might be more desirable for those looking for a more agile platform.
That said, MT5 does offer some noticeably better features, including a greater number of more sophisticated analytical and charting tools, more time frames, and generally more trading instruments and methodologies.
We leave the decision up to you. Good luck and thank you for reading.